Jianjun Miao
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View article: Robust inattentive discrete choice
Robust inattentive discrete choice Open
Rational inattention models characterize optimal decision-making in data-rich environments. In such environments, it can be costly to look carefully at all of the information. Some information is much more salient for the decision at hand …
View article: A Combined Diffusion Model and Reinforcement Learning Approach for Solving the Vehicle Routing Problem With Multiple Soft Time Windows
A Combined Diffusion Model and Reinforcement Learning Approach for Solving the Vehicle Routing Problem With Multiple Soft Time Windows Open
The Vehicle Routing Problem with Multiple Soft Time Windows (VRPMSTW) is a challenging combinatorial optimization problem where a fleet of vehicles must deliver goods to a set of customers, adhering to time windows while minimizing costs. …
View article: Asset Bubbles, R&D, and Endogenous Growth
Asset Bubbles, R&D, and Endogenous Growth Open
View article: Saving China's stock market
Saving China's stock market Open
What were the economic benefits and costs of preventing a stock market meltdown during the summer of 2015 by the Chinese government intervention? We answer this question by estimating the value creation for the stocks purchased by the gove…
View article: The spatial spillover effect of financial growth on high-quality development: Evidence from Yellow River Basin in China
The spatial spillover effect of financial growth on high-quality development: Evidence from Yellow River Basin in China Open
River basin cities are areas with remarkable conflicts between the human activity and the ecological environment. They are also important targets for policy implementation of sustainable and high-quality development (HD) in various countri…
View article: Robust Inattentive Discrete Choice
Robust Inattentive Discrete Choice Open
View article: Capital income jumps and wealth distribution
Capital income jumps and wealth distribution Open
Compared to the distributions of earnings, the distributions of wealth in the US and many other countries are strikingly concentrated on the top and skewed to the right. To explain the income and wealth inequality, we provide a tractable h…
View article: Fiscal Stimulus Under Average Inflation Targeting
Fiscal Stimulus Under Average Inflation Targeting Open
View article: Fiscal Stimulus Under Average Inflation Targeting
Fiscal Stimulus Under Average Inflation Targeting Open
The stimulus effects of expansionary fiscal policy under average inflation targeting (AIT) depends on both monetary and fiscal policy regimes. AIT features an inflation makeup under the monetary regime, but not under the fiscal regime. In …
View article: The Impact of Factor Market Distortion on the Efficiency of Technological Innovation: A Spatial Analysis
The Impact of Factor Market Distortion on the Efficiency of Technological Innovation: A Spatial Analysis Open
The growth of scientific and technological innovation in China is facing a bottleneck under the influence of domestic and foreign environments. The economic internal circulation policy of China may explore new driving forces for innovation…
View article: Correction to: Asset pricing under smooth ambiguity in continuous time
Correction to: Asset pricing under smooth ambiguity in continuous time Open
View article: The Performance of Topic Evolution Based on a Feature Maximization Measurement for the Linguistics Domain
The Performance of Topic Evolution Based on a Feature Maximization Measurement for the Linguistics Domain Open
Understanding the performance of the data mining approach and topic evolution in a certain scientific domain is imperative to capturing key domain developments and facilitating knowledge transfer within and across domains. Our research sel…
View article: Introduction to the special issue in honor of Larry Epstein
Introduction to the special issue in honor of Larry Epstein Open
View article: Asset pricing under smooth ambiguity in continuous time
Asset pricing under smooth ambiguity in continuous time Open
We study asset pricing implications of a revealing and tractable formulation of smooth ambiguity investor preferences in a continuous-time environment. Investors do not observe a hidden Markov state and instead make inferences about this s…
View article: Asset market equilibrium under rational inattention
Asset market equilibrium under rational inattention Open
View article: An empirical study on the potential of land resources utilization in urban agglomeration development zones based on combination analysis
An empirical study on the potential of land resources utilization in urban agglomeration development zones based on combination analysis Open
To alleviate the contradiction between human and land caused by the limitation of land resources and the irreversibility of land use in the development zone of urban agglomeration, 24 indexes were selected from four aspects: land use statu…
View article: Application of Visual Sensing Image Processing Technology under Digital Twins to the Intelligent Logistics System
Application of Visual Sensing Image Processing Technology under Digital Twins to the Intelligent Logistics System Open
Since the founding of the People’s Republic of China, the advantages of logistics are neglected, and the scale operation and the welfare in the industry are difficult to achieve due to the influence of the economic system and social enviro…
View article: Macro‐financial volatility under dispersed information
Macro‐financial volatility under dispersed information Open
We provide a production‐based asset pricing model with dispersed information and small deviations from full rational expectations. In the model, aggregate output and equity prices depend on the higher‐order beliefs about aggregate demand a…
View article: Robust Financial Contracting and Investment
Robust Financial Contracting and Investment Open
View article: Robust Financial Contracting and Investment
Robust Financial Contracting and Investment Open
We study how investors' preferences for robustness influence corporate investment, financing, and compensation decisions and valuation in a financial contracting model with agency.We characterize the robust contract and show that early liq…
View article: Capital Return Jumps and Wealth Distribution
Capital Return Jumps and Wealth Distribution Open
View article: Monitoring market participants, externals and financial transactions in a global financial stability environment
Monitoring market participants, externals and financial transactions in a global financial stability environment Open
View article: Monetary Policy and Rational Asset Price Bubbles: Comment
Monetary Policy and Rational Asset Price Bubbles: Comment Open
We revisit Galí’s (2014 ) analysis by extending his model to incorporate persistent bubble shocks. We find that, under adaptive learning, a stable bubbly steady state and the associated sunspot solutions under optimal monetary policy are n…
View article: Oil Price Implied Structural Shocks and Cross-sectional Stock Returns
Oil Price Implied Structural Shocks and Cross-sectional Stock Returns Open
We document a novel stock price momentum effect related to oil. A portfolio that buys low-oil-beta stocks and sells high-oil-beta stocks earns abnormal returns of -1.08% per month from 1986 to 2011, with majority of abnormal returns arisin…
View article: Eco-efficiency Analysis of Urban Agglomeration in the Middle Reaches of the Yangtze River
Eco-efficiency Analysis of Urban Agglomeration in the Middle Reaches of the Yangtze River Open
View article: Eco-efficiency Analysis of Urban Agglomeration in the Middle Reaches of the Yangtze River
Eco-efficiency Analysis of Urban Agglomeration in the Middle Reaches of the Yangtze River Open
Purpose - Urban agglomeration construction is one of national strategic plans to accelerate the development of industrialization and urbanization in China, which has threatened the eco-environmental quality at the same time. This paper sel…
View article: Performance Analysis on Features of Headlines and Media Organizations about Terrorist Attacks: based on a Combinatory Algorithm
Performance Analysis on Features of Headlines and Media Organizations about Terrorist Attacks: based on a Combinatory Algorithm Open
This paper aims to study the relationship between the geographical distribution of terrorist attacks and features of headlines and media organizations reporting terrorist attacks.Data are derived from the Global Terrorism Database (GTD) an…
View article: Aversion to ambiguity and model misspecification in dynamic stochastic environments
Aversion to ambiguity and model misspecification in dynamic stochastic environments Open
Significance In many dynamic economic settings, a decision maker finds it challenging to quantify the uncertainty or assess the potential for mistakes in models. We explore alternative ways of acknowledging these challenges by drawing on i…
View article: Study on E-Commerce Adoption in SMEs Under the Institutional Perspective
Study on E-Commerce Adoption in SMEs Under the Institutional Perspective Open
This article investigates and discusses the institutional factors influencing decisions of e-commerce adoption in Saudi small and medium enterprises (SMEs) from the temporal view. This article has been conducted in two phases: a full surve…
View article: Dynamic asset allocation with ambiguous return predictability
Dynamic asset allocation with ambiguous return predictability Open